CEO Of Mastercard Predictions For Crypto Becomes A Transaction Equipment, When?

Mastercard supports crypto. (Photo; Doc. Ionixx Tech)

JAKARTA Mastercard's leading payment company official, Michael Miebach, revealed that when crypto assets will become mainstream, including being a transaction tool. According to the Mastercard CEO, to become mainstream, crypto takes a long time.

For your information alone, Mastercard is a leader in global payment services and technology companies that connect millions of consumers, thousands of financial institutions, as well as millions of traders, governments and businesses around the world.

Even so, Miebach is optimistic that this asset class will become much more attractive to people after supervisors enforce appropriate regulations, CryptoPotato reported.

In a recent interview, Mastercard CEO explained that more and more investors want to study cryptocurrency markets. The payment service giants allow them to do so "as easily and more importantly safe" as any rival company, he added.

Miebach sees a future world where most consumers around the world use bitcoin in their transactions and everyday settlements. However, he believes this will not happen in the coming months.

"I think the road is still long before crypto becomes mainstream," said Mastercard CEO Michael Miebach.

The executive outlined the lack of comprehensive rules in the industry as one of the main reasons slowing adoption. In his view, many do not realize how to enter space and how to receive maximum protection on their holdings.

Furthermore, the Mastercard official gave an example of NFT digital art (Non-Fungible Token) which called the purchase of digital prodak a kind of awkward experience because the purchase process was considered less simple and difficult for consumers. Therefore, Miebach loaned a partnership with Coinbase in January 2022 to deal with this problem.

"So we partnered with Coinbase to make it as simple as you buy coffee. I think these things need to be clicked, and then you have a building block to be mainstream," he said.

Not only that, Mastercard strengthened its dominance in the crypto industry by launching crypto debit cards thanks to the cooperation of financial companies with various crypto trading companies including Nexo in April. The crypto card is accessible to crypto users in Europe. In addition, Mastercard also launched a Crypto Secure program to combat fraud or scamming in the crypto industry.